Indian banks were duped of over Rs3,00,00,00,00,000 in just one year

It has been a wretched year for Indian banks with a string of high-profile frauds.

In fiscal 2018, they registered over 6,000 cases of fraud, leading to a total loss of more than Rs30,000 crore ($4.37 billion), according to the financial stability report (FSR) released by the Reserve Bank of India (RBI) on June 26.

In the previous financial year (2017), banks reported 12,533 cases of fraud leading to losses of Rs18,170 crore, according to a report by Institutional Investor Advisory Services,...

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